December 12, 2019
Willkie represented FFL Partners and Icynene-Lapolla, a leading North American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems, in the transaction.
On December 5, Huntsman Corporation (NYSE: HUN) announced its agreement to acquire Icynene-Lapolla, a leading North American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications, from an affiliate of FFL Partners, LLC. Willkie represented FFL Partners and Icynene-Lapolla in the all-cash transaction, which is valued at $350 million.
Icynene-Lapolla has annual revenues of approximately $230 million and two manufacturing facilities located in Houston, Texas and Mississauga, Ontario. Huntsman Corporation is global manufacturer and marketer of differentiated and specialty chemicals with 2018 revenues of more than $9 billion. With approximately 10,000 employees, the company operates more than 75 manufacturing, R&D and operations facilities in approximately 30 countries.
The Willkie deal team was led by partners Neil Townsend and David Cosgrove.
